by Sam Collins | November 6, 2013 1:10 am
Synaptics (SYNA) — This company develops, markets and sells custom-designed human interface solutions for electronic devices and products such as smartphones, tablets and ultrabooks. It was recently named one of Forbes’ Top 10 Small Tech Companies.
Consensus estimates are for earnings of $3.69 per share in fiscal 2013, ended in June, up from $3.11 in fiscal 2012. And analysts look for $3.83 in fiscal 2014. The mean target is near $56.
The stock broke from a five-month consolidation early in September and ran from $41 to $56.50 in about six weeks. Profit-taking and market conditions then drove it from its high to its 50-day moving average at $45 and also created a gap down from $52.05 to $49.89.
Since gaps are usually partially filled on a stock’s first recovery bounce, the midpoint of the gap at $51 is an initial trading target. But longer-term buyers may wish to hold SYNA for greater gains. Note the strongly oversold MACD — another positive.
Source URL: http://investorplace.com/2013/11/trade-day-synaptics-syna/
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